Fujifilm subsidiary to receive federal funding to manufacture COVID-19 vaccine

Fujifilm Holdings Corp.
4901,
+3.09%
said Monday it will receive federal funding to help manufacture COVID-19 vaccines. The contract was awarded by the Biomedical Advanced Research and Development Authority during President Donald Trump’s visit to one of the company’s facilities in North Carolina. The Operation Warp Speed contract was granted to the Texas A&M System, which then subcontracts with Fujifilm Diosynth Biotechnologies, for $265 million. The Fujifilm subsidiary had previously announced a manufacturing deal with Novavax Inc.
NVAX,
+4.23%,
one of the companies developing a COVID-19 vaccine candidate. Fujifilm’s stock is down 2.4% for the year, while the S&P 500
SPX,
+0.74%
has gained 0.2%.